VANCOUVER (NEWS 1130) – People in BC will likely be paying more for electricity soon.
BC Hydro is asking for an interim one-year, four per-cent rate increase, which it says translates to about $4 per month for the average customer.
Hydro President and CEO Jessica McDonald says an “interim” one-year rate increase is needed while a longer term, three-year plan is rechecked.
“We want to make sure that that’s a very meaningful, open and transparent process. So we’re going to take the time to re-work our forecast but then move ahead just as we had originally planned with the full filing for the three year period,” she explains.
“BC’s population is anticipated to grow by about a million people over the next 20 years. We expect that to result in an increased demand for electricity of about 40 per cent over the next 20 years.”
She says the mining sector is to blame for the increase.
“As you know there’s been a continued decline in commodity prices but this we anticipate, will be counteracted by the program that government as recently announced to allow mining companies to defer electricity payments over the upcoming years. We need time to factor that into our forecast as well.”
The rate increase must still be approved by the BC Utilities Commission.